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Nonprofiteer
← BRONX POINT HOUSING DEVELOPMENT FUND COMPANY INC

Form 990 for tax year 2024

Filed by BRONX POINT HOUSING DEVELOPMENT FUND COMPANY INC.

Totals

Total revenue
$1,502,613
Total expenses
$1,502,026
Contributions and grants received
$1,502,613
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$20,590
Total liabilities, end of year
$20,003
Net assets or fund balances, end of year
$587
Program services expenses (Part IX)
$1,502,026
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,502,026

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,501,613

  • 1f · All other contributions, gifts and grants

    $1,000

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $510 · program services $510

  • 24a · Other expenses: BUILDING CONSTRUCTION

    total $1,501,516 · program services $1,501,516

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $502,559 · end of year $587

  • 3 · Pledges and grants receivable

    end of year $20,003

  • 4 · Accounts receivable

    beginning of year $725,665

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,228,224 · end of year $20,003

  • 27 · Net assets without donor restrictions

    end of year $587

Mission and programs · 2024

Mission

THE BRONX POINT HDFC SERVES AS THE NOMINEE OWNER FOR THE BRONX POINT PROJECT THAT WILL PROVIDE AFFORDABLE HOUSING, A MUSEUM TO CELEBRATE HIP HOP HISTORY AND CULTURE, PROVIDE RETAIL OPPORTUNITIES, AN EARLY CHILDHOOD CENTER, AND COMMUNITY SERVICES PROGRAMMING. BRONX POINT HAS 7 CONDOMINIUMS, OF WHICH 3 ARE RESIDENTIAL WITH 542 AFFORDABLE HOUSING UNITS.

Activities or mission (Part I)

THE BRONX POINT HDFC SERVES AS THE NOMINEE OWNER FOR THE BRONX POINT.

  • THE CREATION OF THE PUBLIC PARK AND ESPLANADE AT BRONX POINT.

    Expenses $1,502,026

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Douglas Tween

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Janice Hart

    DIRECTOR (OUTGOING)

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Roger Begelman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Eileen Torres

    EXECUTIVE DIRECTOR

    Total calculated
    $461,592
    From this org
    $0
    From related orgs
    $370,237
    Other
    $91,355
    Hours/week
    2.5 + 32.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $369,329 related
    Bonus
    $0
    Other
    $0 + $908 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $56,855 related
    Filer's total
    $0 + $461,592 related

  • Gordon Miller

    CFO

    Total calculated
    $329,103
    From this org
    $0
    From related orgs
    $287,271
    Other
    $41,832
    Hours/week
    2.5 + 32.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $287,001 related
    Bonus
    $0
    Other
    $0 + $270 related
    Deferred
    $0 + $18,827 related
    Nontaxable benefits
    $0 + $23,005 related
    Filer's total
    $0 + $329,103 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS DETERMINED BY THE RELATED ENTITY BRONXWORKS, INC.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
23 April 2026
IRS schema version
2024v5.5
Source object
202611179349300841

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